Ramaprasad
04 March 2015 at 10:29
I have short term capital gains of Rs 7 lakhs and FD interest income of Rs 1 lakh in the current financial year, and no other income. Can I avail the full exemption or should I pay tax on the entire capital gain?
Ramaprasad
19 February 2014 at 19:35
My stock broker carried out unauthorised trades in my and my family members' four accounts resulting in losses. The concerned dealer said she would be put behind bars and requested me to help her by paying Rs 5 lakhs into my trading acccount, and she would recover it in a few days. I paid, but she could not recover the amount as the market movement was adverse. I filed for arbitration. The broker argued that all four accounts were treated together a family account and the payment I had made extended to all four accounts regularising the unauthorised trades. The arbitrator held that the payment had ratified the unauthorised trades in all four accounts and losses up to the date of payment were to be borne by us, and after that date to be borne by the broker. The broker filed application in the district court u/s 34 of arbitration act to set aside the part of the order affecting him. During the hearings, it has now emerged that the accounts were delinked (i.e., no longer family account) well before the unauthorised trading took place. The award was therefore induced by fraud. The case is under arguments at present. Can I simultaneously ask for/start criminal or contempt of court proceedings against him? If so, what is the procedure? Would be grateful for replies.
Ramaprasad
02 February 2014 at 13:15
I had filed for arbitration against a stock broker for unauthorised trades. The award allowed about 50% of my claim. The broker filed an application u/s 34 of the Arbitration Act in the city civil court to set aside the award and claimed the remaining amount also. During the proceedings, it came to light that the broker had knowingly given false information to the arbitrator, which resulted in only 50% of my claim being allowed. I filed an IA to bring on record the fraud.
Now the broker has come forward for a settlement and informed the court accordingly. What precautions should I take during the settlement negotiations? Would be grateful for a reply.
Rama Prasad
Ramaprasad
02 December 2013 at 21:13
my opposite party in a case in which I am the respondent is taking repeated adjournments to drag on the case. Is there any way I can speed up the proceedings?
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Arbitration act
One of the proposed amendments to the arbitration act prescribes a time limit of one year for proceedings under Section 34 to conclude.
Does it apply to fresh proceedings only or to ongoing cases also?
What happens if the court does not adhere to the time limit?